Szijjarto: Hungary-Portugal venture capital fund to promote SMEs

The East West European Venture Capital Fund, which has recently been set up with a budget of 6 billion forints (EUR 19.2m), aims to assist small and medium-size companies working with digital technologies in Hungary and in Portugal over the next eight years, Foreign Minister Peter Szijjarto said, starting a two-day official visit to Portugal on Thursday. The companies promoted focus on development projects that contribute to the digital transformation of both the private and public sectors, Szijjarto said. Hungary's success is dependent on its ability to switch over to new technologies in the digital era, he said.